What is the Cost of Starting a Gym Business in Kenya? To start a medium gym business, you need to invest around Ksh 500,000. Gym business requires sophisticated equipment and a lot of space that translates to higher rent.
How much money do I need to start a gym?
Think somewhere between $10,000 for a personal studio to $50,000 for a fully-equipped commercial gym. Be sure to shop around—and keep in mind you can often get a discount if you purchase the equipment in sets as a complete package. Certifications – having a professional, certified staff is a big plus.
How much do gym owners make in Kenya?
Depending on your location, offerings, and size, you can charge sh200-Sh500 per day or Sh5,000 to Sh10,000 per month. You may also enroll members and give a discount when they pay for 1 year.
How much is gym membership in Kenya?
The membership for people who want to visit the gym between weekdays from 10 am to 1 pm is about Ksh. 6,000 or you can pay between Ksh. 11,000 to Ksh. 13,000 to get access during the peak hours.
How profitable is owning a gym?
Increase membership revenues – If membership at your gym is $1,000 per year, you only need 100 members to turn over $100,000 in annual revenue. But adding just one new member every week puts annual revenues at $152,000. Adding two new members per week puts it at $204,000.
Why do gyms fail?
“Other than being under-capitalized, the biggest reason we see for health club failure is lack of business know-how and lack of proper implementation of sales and marketing strategies,” points out Thomas. “Another common misconception that many new gym owners have is that the gym will sell itself.”
What is needed to start a gym business?
Start a gym by following these 9 steps:
- STEP 1: Plan your business. …
- STEP 2: Form a legal entity. …
- STEP 3: Register for taxes. …
- STEP 4: Open a business bank account & credit card. …
- STEP 5: Set up business accounting. …
- STEP 6: Obtain necessary permits and licenses. …
- STEP 7: Get business insurance. …
- STEP 8: Define your brand.
How do I write a business plan for a gym?
Before going into the details of every section, here is an outline of what your fitness club business plan should include:
- Executive Summary.
- Market Research and Analysis.
- Marketing and Sales Forecasts and Strategies.
- Programs, Services and Products.
- Facilities and Equipment.
- Ownership and Investor Structure.
Which is the cheapest gym to join?
For those that want to keep up with their exercise or training, here are a few inexpensive choices for affordable gym memberships.
- LA Fitness. …
- Planet Fitness. …
- Life Time Fitness. …
- Cardinal Fitness. …
- 24 Hour Fitness. …
- Gold’s Gym. …
- Lucille Roberts. …
- The Local YMCA.
How much does gym cost per month in Kenya?
Gym membership in Nairobi usually costs around 5,000 – 7,000 Ksh per month. Some gyms are more expensive, but they also offer cheaper rates for longer membership plans (ie. 3 months or one year). You can also ask your gym about off-peak and corporate plans.
Does UON have a gym?
University Of Nairobi UoNBI Gym – Details:
These sports and games are categorized as indoors and outdoors. Available indoor activities include table tennis, scrabble, chess, darts, just to mention a few.
Is owning a gym a good investment?
The price of starting a gym is an enormous cash investment that you’ve got to be willing to risk, along with your good credit if things go south. … So if you’re looking for a labor of love, then the gym business is a homerun. And there’s absolutely nothing wrong with that.
How do I start a gym with no money?
15 Steps on How to Start a Gym Business With No Money
- Understand the Industry.
- Conduct Market Research and Feasibility Studies.
- Decide What Niche to Concentrate On.
- Know the Major Competitors in the Industry.
- Decide Whether to Buy a Franchise or Start from Scratch.
- Know the Possible Threats and Challenges You Will Face.
How many members does a typical gym have?
How Many Members Does the Average Gym Have? The average gym franchise location typically has 1000-10,000 members, but you don’t see these people because 80% of the memberships go unused.